CSO Debt Alliance Chairperson Fr Daniel Mutale has warned that Zambia’s rising debt-to-GDP ratio reflects a shrinking national income and deepening economic vulnerability, despite a nominal reduction in the country’s total debt stock from $31.2 billion in 2023 to $25.03 billion in 2024. Fr Mutale has noted that domestic borrowing continues to surge, with domestic debt currently at $8.2 billion, an increase of 76.5 per cent since 2022. He has cautioned that this trend risks crowding out private sector investment and further weakening an already struggling economy. Speaking Thursday in Lusaka at the 2025 National African Conference on Debt and Development (AfCoDD), held under the theme “Reparatory Justice: Reforming Economic Systems for Sustained and Inclusive Growth in Zambia,” Fr Mutale...